Playing the high-rise game?

Can anyone shed a light on how this developer is playing the game?

Article below but in essence..
- Developer proposing 22 storey luxury esplanade high-rise in Darwin.
- Darwin already has waaaay too many high-rise apartments.
- Darwin market down 30% and looking flat for the next 5 years.
- Local developer

Why would the developer be announcing this proposal now? I can't think of a worse time to flog high rise units...but maybe the dev knows something I don't?

Anyone have any idea on how this game is being played?

Genuine question. keen to learn.

New 22-storey building for esplanade - realestate.com.au

 

That's called 'pie in the sky'......will never happen. Hundreds of these in major cities that never eventuate. He's testing the waters via press releases to see if there is any real interest. It's not what Darwin needs.

 

Shameless self promotional propaganda.

Property runs in cycles, the YEARS this would take to actually complete may find it in a boom cycle, then people would say the developer had foresight !